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  3. explain the following: understand the ppe acquisit

Explain the following: Understand the PPE acquisition (or investing) cycle and related significant transactions and...

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Accounting

Explain the following:

Understand the PPE acquisition (or investing) cycle and related significant transactions and source documents

Understand the relevant assertions/objectives about PPE balances and transactions that concern the auditors most

Understand the vouching and tracing to test existence/occurrence and completeness assertions of PPE and related transactions

Understand the internal controls over PPE and related transactions

Understand the substantive procedures to audit PPE (capital expenditures vs. revenue expenditures)

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